Kamloops Real Estate Blog

BC Real Estate Association (BCREA) Chief Economist Brendon Ogmundson discusses the June 2020 statistics in the latest Housing Market Update.

Sales across provincial housing markets surged coming back to pre-covid numbers. This is likely due to pent up demand and low mortgage interest rates. This has pushed the market towards a bit of a sellers market across the province.

For Kamloops there was an 11.1% increase in the number of units sold for this same time last year. The average price was also up 7.4% to $456,701. We still have low listing inventory with 1,002 active listings on the market at the end of June 2020 which is a down 21% from last year. The result of the low inventory is that Kamloops has a swiftly moving market with only 3.4 months of supply. This is one of the lowest in the Interior and Northern regions.

Click here to visit to BCREA’s website. To view other statistics for the Kamloops and BC real estate market click here.

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Vancouver, BC – July 14, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 8,166 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June 2020, an increase of 16.9 per cent from June 2019. The average MLS® residential price in BC was $748,155, a 9.1 per cent increase from $685,968 recorded the previous year. Total sales dollar volume in June was $6.1 billion, a 27.5 per cent increase over 2019.

“Sales around the province surged back to pre-COVID-19 levels in June,” said BCREA Chief Economist Brendon Ogmundson. “While there are some temporary factors that may have pushed demand forward, we are cautiously optimistic that market activity will remain firm.”

Although listings activity has normalized along with sales, active listings are still down close to 20 per cent year-over-year and, as a result, many markets are seeing upward pressure on prices.

Year-to-date, BC residential sales dollar volume was up 0.6 per cent to $24.7 billion, compared with the same period in 2019. Residential unit sales were down 8 per cent to 32,875 units, while the average MLS® residential price was up 9.4 per cent to $751,722.

Click here to visit to BCREA’s website. To view other statistics for the Kamloops and BC real estate market click here.

If you want to be kept informed on Kamloops Real Estate, News and more visit our Facebook Page.

To search for Kamloops real estate and homes for sale click here.